SECP Leads Economic Recovery with Stronger Regulation

Pakistan’s Struggling Economy:-(Mudassar Iqbal)-As the Shahbaz-led coalition government attempts to revive Pakistan’s struggling economy, the role of the Securities and Exchange Commission of Pakistan (SECP)—the country’s apex corporate regulator—has become even more pivotal. Ensuring transparency, regulatory oversight, and investor protection are no longer just technical functions—they are essential to rebuilding public and market trust.

A Personal Visit to SECP: Reflections and Renewed Insights

I recently had the privilege of visiting the SECP—an institution that still feels like part of my bloodstream. During the visit, I had the opportunity to reconnect with former colleagues and hold informal conversations with professionals across various departments. These interactions, coupled with a close observation of recent regulatory developments, prompted me to reflect and write again on issues that continue to define the regulatory environment in Pakistan.

Chairman Akif Saeed: A Calm Leader in a Critical Time

One name that consistently emerged in these conversations was that of Chairman Akif Saeed. Widely acknowledged within the institution as a calm and competent leader, Saeed brings over a decade of experience, including a previous term as Commissioner from 2014 to 2017. His return to the SECP as Chairman comes at a time when institutional credibility is under intense public scrutiny—and his leadership is being seen as a stabilizing force.

Cracking Down on Misconduct: SECP’s New Enforcement Drive

Since assuming office, Saeed has prioritized enforcement—reviving long-dormant investigations, tightening regulatory responses, and signaling zero tolerance toward financial misconduct. Internally, there is a renewed sense of direction among enforcement teams, suggesting a more deliberate and robust approach to corporate accountability. Market observers note that such steps are necessary, especially as Pakistan attempts to attract both domestic and foreign investors.

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Reforming Corporate Governance for a More Transparent Future

But enforcement alone is not enough. The SECP under Saeed is also working to upgrade corporate governance frameworks and enhance transparency in line with international norms. Informal insights from staff suggest that a significant amount of internal work is being done to streamline disclosure standards and reduce regulatory bottlenecks. These reforms, though still evolving, aim to ensure that corporate behavior reflects not just legal compliance but ethical responsibility.

Investor Protection at the Heart of SECP’s Agenda

A critical pillar of these efforts is investor protection. Saeed appears to recognize that investor trust is not automatically earned—it must be reinforced through timely disclosures, accessible information, and a credible enforcement regime. Discussions at the SECP indicate that improving public access to information and simplifying disclosure formats are among the goals currently under review.

Facing the Past: The Ongoing Battle Against Regulatory Doubts

Nonetheless, serious challenges remain. Pakistan’s corporate sector has seen its share of controversies—from questionable political donations to weak internal controls in powerful business groups. Past debates, including those involving high-profile names like Jahangir Khan Tareen, continue to shape public perceptions about the effectiveness of regulatory institutions. These realities serve as reminders that rebuilding trust is a long-term process, not a one-off announcement.

Akif Saeed’s Tenure: A Defining Moment for SECP’s Future

Saeed’s current term represents both an opportunity and a test. His efforts to reassert the SECP’s relevance as a forward-looking and independent institution are underway, but outcomes will depend on sustained institutional support and resistance to external interference. The regulatory landscape is evolving, and the SECP’s ability to adapt—technologically, legally, and ethically—will determine its future standing.

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Pakistan Needs Strong Regulators—Now More Than Ever

In an era of global integration, Pakistan cannot afford regulatory complacency. As I left the SECP that day, it was clear that the institution is slowly regaining its momentum. Whether that momentum translates into meaningful change remains to be seen—but the early signals under Saeed’s stewardship are encouraging.

The writer is a commentator on business and economic affairs with a strong commitment to ethical standards in governance, regulation, and everyday conduct. He continues to advocate for integrity and transparency across all domains of public and professional life.